Yet another story carried by the Financial Times (FT) on a likely Bank of England (BOE) next move, stated that the UK central bank had already delayed the start of its sale of £838bn of gilts bought under its quantitative easing programme from October 6 to the end of this month.
Additional takeaways
It is now expected to bow to investor pressure for a further pause until the market becomes calmer.
The bank’s top officials have come to this view after judging the gilts market to be “very distressed” in recent weeks, a view backed by its Financial Policy Committee.
Market reaction
GBP/USD has popped to recapture 1.1400 on the FT report, currently trading at 1.1400, up 0.43% so far.
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GBP/USD buyers attack 1.1400 on chatters about UK politics, BOE’s QT
